The long-term credit rating for Spain is raised from BBB to BBB+, while the short-term credit rating however is at A-2.
It is the US credit rating agency Standard & Poor’s that has published a press release in which they also comment on their views on how Spain is developing. They believe that the outlook for the future rating is stable. The upgraded ranking is the first since Spain got an increased ranking to BBB in May 2014. The new rating of BBB + means that Spain now lies three degrees above the level where you should not invest.
Furthermore, Standard & Poors says that “The upgrade reflects our view of Spain’s strong and balanced economic development in the past four years, that successively has favored the public finances”. They also mention the positive impact that reforms in the labor market had that has given an enhanced competitiveness for exports. S & P predicts an average growth of 2.7% in 2015 to 2017, and there is an increase from their last valuation in April this year – when the predicted increase was 2.2%.
However they emphasis that the elections on December 20th may pose a risk to the development.